Why Palantir Stock Is Dropping Today
Portfolio Pulse from Erica Kollmann
Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight, despite raising its price target from $8 to $9. Palantir CEO, Alexander Karp, also sold $10.99 million worth of Palantir stock options recently. The stock is down more than 8% at $14.92.
August 31, 2023 | 3:43 pm
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NEGATIVE IMPACT
Palantir's stock is trading lower due to Morgan Stanley's downgrade and the CEO's sale of stock options. The stock is down more than 8%.
The downgrade by Morgan Stanley, a major financial institution, can negatively impact investor sentiment, leading to a decrease in stock price. Additionally, the sale of a significant amount of stock options by the CEO can also be perceived negatively by investors, further driving down the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100